Real estate industry news

Survey: Home Prices Expected to Rise Another 6.7%

Nationwide home prices are expected to finish the year up 6.7 percent higher as compared to 2012, according to a survey of more than 100 real estate professionals and economic experts. Respondents to Zillow's quarterly Home Price Expectations Survey said they project the median U.S. home value to come in at $167,490. One caveat with [...]

Don’t Forget Resale Appeal When Making Home Renovations

When deciding to make home renovations, there are a few things you will want to consider to make sure you don't hurt its potential resale appeal. The folks over at the Zillow Blog point out the typical homebuyer today plans to stay on average of just between five and seven years before moving on. Therefore [...]

Construction Finally Set to Begin on Great Park Development

The city of Irvine's ambitious plan to develop Orange County Great Park—the site of the former Marine Corps Air Station El Toro—will finally be put into action later this month when construction on the first phase is commenced. Pavillion Park, as the development is known, will include more than 700 single-family detached homes and condominiums. [...]

S&P Proclaims Housing Recovery is for Real

Good news from the Standard & Poor's Ratings Service with regards to the housing recovery—after several starts and stalls, the housing market now seems in full rebound mode. That was the takeaway from S&P's Housing and Commercial Real Estate Roundtable earlier this month. According to Mortgage Daily News, staffers from S&P cited the consistent rise [...]

The Two Most Important Criteria to Securing a Home Loan

So you've agreed on a price for your new dream home and now all you need is to secure a home loan. This lengthy, detailed process involves mounds of paperwork, but in essence the whole thing can be boiled down to two pertinent factors—creditworthiness and debt-to-income ratio. These are the primary criteria used by banks [...]

Report: Orange County’s Improving Economy To Drive Housing Recovery

The Orange County economy will continue to outpace the overall state economy and will spur a continued recovery of the housing market in the region through at least 2015, according to a UCLA report released earlier this week. In its analysis of the report, the Los Angles Times said the Orange County economy is “now [...]

Report: U.S. Home Sales Activity Reached Three-Year High in February

A monthly analysis of the U.S. housing market conducted by the National Association of Realtors showed sales of previously owned homes in February accelerated to a pace not seen in more than three years. The Associated Press notes the report is further confirmation Americans are gaining confidence in the housing market. Sales of previously owned [...]

Home Prices Shoot Up 22% in Orange County; Biggest Gain Since 2004

Home prices in Orange County surged in February, according to the latest numbers provided by DataQuick Information Systems. The median home price in Orange County last month was $477,000—a whopping 22.3 percent increase from February 2012. The Orange County Register reports the year-over-year increase is the largest since November 2004. DataQuick's numbers certainly reveal the [...]

Orange County Housing Market Ranked Fourth in Nation in Price Gains

More evidence of the surging Orange County housing market revealed itself this week in the latest report from Core-Logic (via the Orange County Register). According to the study, home prices in the O.C. were up 11.7 percent in January from the previous year, which is the fourth-highest increase among U.S. large metro areas. Topping the [...]

Report: Home Prices Show Biggest Gains Since 2006

Further evidence of the recovering housing market was revealed Tuesday in a closely-watched report from S&P/Case Shiller. According to the study, the median price of a single-family home in the 20 largest U.S. markets showed an annual gain last year not previously seen since 2006. Home prices jumped by 6.8 percent in 2012, which Reuters [...]